BNP Paribas SA and two affiliates have agreed to pay $80 million to settle the federal government’s False Claims Act suit over a scheme to fraudulently obtain government financing for international shipments under a U.S. Department of Agriculture credit program, according a Texas federal court order filed Thursday.
Troubles worsened within Portugal’s Espirito Santo banking empire Thursday when prosecutors arrested the former chief executive of Banco Espirito Santo in a money-laundering and tax-evasion probe and a third company in the group sought court protection from creditors.
A New York federal judge on Thursday upheld the convictions of five former Bernard L. Madoff Investment Securities LLC employees accused of aiding the Ponzi scheme but sharply criticized prosecutors for making “derogatory generalizations” in closing arguments to the jury.
A resolution that would authorize the U.S. House of Representatives to sue President Barack Obama over the delay of the Affordable Care Act’s employer mandate moved one step closer to a vote Thursday, when the House Rules Committee approved it for full House review.
General Motors Co. expects to set aside at least $400 million for its compensation fund for death and injury victims of accidents arising from faulty ignition switches, the automaker disclosed in its second-quarter earnings report Thursday.
Barclays PLC asked a state judge Thursday to toss New York Attorney General Eric T. Schneiderman's claims the firm tried to increase the market share of its dark pool by lying to clients and investors, saying not only did it not commit fraud but that the attorney general has no regulatory authority to bring his claims.